Shandong Buchang Pharmaceuticals Co., Ltd. (SHSE:603858), Pu Xiaoping, Yang Chun and Ma Chongxu agreed to acquire 10.1% stake in Changrui Biotechnology (Chengdu) Co., Ltd. from Chengdu Farwits Biotechnology Co., Ltd. for CNY 10.01 million on March 1, 2023. Shandong Buchang Pharmaceuticals Co., Ltd. (SHSE:603858), Pu Xiaoping, Yang Chun and Ma Chongxu signed a cooperation framework agreement to acquire 10.1% stake in Changrui Biotechnology (Chengdu) Co., Ltd. from Chengdu Farwits Biotechnology Co., Ltd. on March 9, 2023. Shandong Buchang Pharmaceuticals Co., Ltd. will acquire 8% stake, Pu Xiaoping and Yang Chun each will acquire 1% stake and Ma Chongxu will acquire 0.1% stake.

The board of directors of Shandong Buchang Pharmaceuticals approved the transaction. Changrui Biotechnology (Chengdu) Co., Ltd. recorded total assets of CNY 45.46 million and net assets of CNY 25.98 million, revenue of CNY 0.08 million and net loss of CNY 9.9 million for the year ended December 31, 2022.